Unaudited Financial Results for the quarter and half year ended 30th September, 2025.
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Williamson Financial Services reported a net loss of Rs. 45.53 lakh for Q2 FY26 and Rs. 46.13 lakh for H1 FY26, largely driven by a Rs. 1.90 crore asset/investment written-off during the quarter. Revenue from operations was a mere Rs. 54,000, with the company relying almost entirely on other income (Rs. 1.46 crore in Q2). The company's net worth is fully eroded at negative Rs. 36.64 crore against paid-up equity of Rs. 8.36 crore, while borrowings stand at a massive Rs. 50.85 crore. The statutory auditor issued a qualified review report flagging material uncertainty on going concern, non-recognition of interest expense (Rs. 88.2 lakh in Q2, Rs. 1.75 crore in H1) on secured and inter-corporate borrowings under negotiation, inadequate provisioning on Rs. 14.71 crore of doubtful unsecured loans, and unreconciled balances. Cash flow from operations was negative at Rs. 40.6 lakh.
This is a deeply distressed filing — negative net worth, mounting losses, auditor's qualified conclusion with a going concern warning, and major undisclosed liabilities from defaulted loans and unsettled claims with ABFL and IL&FS. Shareholders face serious risk of value erosion; existing equity is effectively worthless and any revival hinges on monetising mortgaged assets like the Neemrana land.